Update
I don't know what happened today but I literally did nothing.
I've just been idling and wondering what'll happen tomorrow if the world will end haha. Waiting to see but I guess I'll get back to work again in the morning.
Earnings for Yesterday:
It was a very good day with lots of high ticket items sold. My CR is a little affected but I think it's due to the current state of affairs in the US.
How you deal with taxes and what type of company you created for this?
I'll create a company and go public after selling my current main site. Then figure it out. But for now the giphy...
As you might have seen, I've been following this journey almost since it started.
Now that I have plans to move full-time with my affiliate/SEO projects myself, I have to ask: are you ever worried about finances and stuff?
I have quite good savings, but there's something in my brain that says: "what IF all the affiliate programs shut down tomorrow - and Google have another core update destroying your sites completely.."?
I know you've been following
I also had your concerns too.
The thing I learned is that "What IFs" will always exist.
Previously I had a
SURE job in the most important sector of my country. Granted I hated the 9-5 grind because of my mentality but I had no insecurities about my position in the job.
So I didn't even consider a what if I lost it scenario then came Covid and that business had to shut down. I still have the Job but it's just not paying me now and won't for quite a few more months.
I'm sharing that to say no one thing is Sure and anything can happen at any time.
The best way is to hedge yourself against all odds by doing these few things I luckily did last year:
1) Get out of debt.
2) Have an emergency fund that covers all your living expenses(think of your average expenses in the months you spend the most money) for at least 6 months but preferably a year.
3) Diversify your net worth by owning multiple online businesses that aren't monetized with one source, investing in a mutual fund, stocks, real estate and keep saving at least 10-20% of your monthly income.
If you do all three things properly, you'll have at least 2 years to figure things out if all else fails. At least that's how I think about it. And as a last resort take up any menial job to survive.
One thing you have to remember is that what we are doing is
honing a skill. It's not something that can just be taken away because Amazon, Google, or any other place that pays us disappears tomorrow. Or SEO ceases to exist.
The principles of making money will always exist and they are universal:
- Find a problem that people have.
- Offer them a solution.
- Present it to them in creative ways. (generate traffic)
This is exactly what we do as internet marketers. And it's the same for any method whether it's paid ads, youtube videos, Instagram, whatever the next method will be. Even if you go offline the principles remain the same.
If affiliate programs disappear then you run ads or make an ebook or other digital product to sell etc.
So if done right and considering that you have no debt, an emergency fund that can last you 6 months if you live lavishly and stretched for longer if you cut back on everything, I'd say there's nothing to worry about.
If I lost all my sites tomorrow, I'd be devastated mentally for a few weeks but I'd quickly get back to it shortly after. Even if I saw that SEO failed, I'd start pushing ads, making videos, dropshipping, or whatever else to adapt.
I've grown over the years and have done most methods from Youtube game hacks to CPA offers, dropshipping, ClickBank with FB ads, and now to affiliate marketing with SEO and the only thing that has changed is where the traffic comes from apart from that everything remains the same.
Which is to say that you'll be fine if you can survive a few months and don't give up just because one thing stopped working.
Google won't wipe out all sites ever at least not within the next 5-10 years. And Affiliate marketing will always exist as long as you have businesses.
Furthermore, people will always have problems that need solving. And once there's that, you will be able to make money online considering that the internet users will only keep growing as the population of the world increases.